[PEN-L:32812] plus ca change

[Michael Perelman <michael@xxxxxxxxxxxxxxxxx>]

Bradsher, Keith. 1989. "UAL Board to Consider Its Next Step." New
York Times (23 October): p. D1.
    The 190 point fall in October 1987 may have been triggered by
the announcement that financing for the takeover of United
Airlines was not going to be forthcoming.  "In interviews last
week, 13 arbitragers at 11 large brokerages and private companies
described bouts of panic selling by takeover speculators eager to
liquidate at any price because the deal had become to risky and
because they needed money to repay debts.  Some arbitragers said
several small arbitrage

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Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael@xxxxxxxxxxxxxxxxx